When a bond or undertaking is filed as provided in section 38-22-131, the person filing the original mechanic's lien may bring an action upon the said bond or undertaking. Such action shall be commenced within the time allowed for the commencement of an action upon foreclosure of the lien, and the statute of limitations applicable to a lien foreclosure shall apply to the action upon the bond or undertaking as it would had no bond or undertaking been filed.
Source: L. 75: Entire section added, p. 1426, § 5, effective October 1.
Structure Colorado Code
Title 38 - Property - Real and Personal
Article 22 - General Mechanics' Lien
§ 38-22-101. Liens in Favor of Whom - When Filed - Definition of Person
§ 38-22-102. Payments - Effect
§ 38-22-103. Attaching of Lien - Enforcement
§ 38-22-104. Lien on Mining Property
§ 38-22-105. Property Subject to Lien - Notice
§ 38-22-105.5. Notice of Lien Law
§ 38-22-106. Priority of Lien - Attachments
§ 38-22-107. Lien Attaches to Water Rights and Franchises
§ 38-22-110. Action Commenced Within Six Months
§ 38-22-111. Joinder of Parties - Consolidation of Actions
§ 38-22-112. Allegations of Complaint
§ 38-22-113. Hearing - Judgment - Summons - Defense
§ 38-22-114. Disposition of Proceeds - Execution
§ 38-22-115. Parties to Action
§ 38-22-117. Assignment of Lien - Failure to Support Lien
§ 38-22-118. Satisfaction of Lien - Failure to Release
§ 38-22-119. Agreement to Waive - Effect
§ 38-22-120. Rules of Civil Procedure Apply
§ 38-22-121. Liens of Surveyors and Engineers
§ 38-22-122. Lien Under Two Contracts - Effect
§ 38-22-123. Payment to Avoid Invalid
§ 38-22-124. Other Remedies Not Barred
§ 38-22-125. Bona Fide Purchaser
§ 38-22-126. Disburser - Notice - Duty of Owner and Disburser
§ 38-22-127. Moneys for Lien Claims Made Trust Funds - Disbursements - Penalty
§ 38-22-128. Excessive Amounts Claimed
§ 38-22-129. Principal Contractor May Provide Bond Prior to Commencement of Work
§ 38-22-130. Payment of Claims by Surety
§ 38-22-131. Substitution of Bond Allowed